Reported 8 months ago
The EU is conducting antitrust investigations against Meta, the parent company of social media platform Facebook, and US-based Apple under the Digital Markets Act (DMA). Apple, despite making changes to comply with the new EU regulations, still faces allegations of anti-competitive behavior and could potentially be fined up to 10% of its global annual revenue, becoming the first target under the DMA. The investigations aim to create a fair competition space and enhance user choice among digital services. Apple's alleged restrictions in its App Store and on third-party browsers for its system, along with Meta's focus on ad-free subscription services, are under scrutiny. If found guilty, Apple could face a significant fine, potentially up to $383 billion based on its 2023 revenue.
Source: YAHOO